Singapore shares were largely unchanged by midday, with United Overseas Bank weighing on the broader market after reporting poorer-than-expected earnings, reported Reuters.
UOB shares fell as much as 3.2%, the biggest intra-day drop since November, after the bank’s fourth quarter net dropped 21%.
By 1:07 p.m., the Straits Times Index (STI) was up 0.1%, or 3.24 points, at 2971.58. Around 787.2 million shares worth $681.4 million were traded, compared with 1.3 billion shares worth $1.2 billion that changed hands by the same time on Thursday.
Asian markers were also little changed as improved market sentiment from positive US data was offset by concerns of oil prices and the fragile euro zone economy.
Among other losers, shares of Cosco Corp Singapore fell as much as 5.3% to a three-week low after the Singapore-listed Chinese shipbuilder reported a 44% drop in full-year net profit and analysts forecast a challenging outlook.
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